Wells Fargo & Company Forecasts Strong Price Appreciation for Ally Financial (NYSE:ALLY) Stock

Ally Financial (NYSE:ALLY) had its price objective increased by Wells Fargo & Company from $32.00 to $34.00 in a report issued on Thursday,Benzinga reports. The firm currently has an underweight rating on the financial services provider’s stock.

Several other brokerages also recently weighed in on ALLY. StockNews.com downgraded shares of Ally Financial from a “buy” rating to a “hold” rating in a report on Thursday. Royal Bank of Canada reiterated an “outperform” rating and issued a $40.00 price objective on shares of Ally Financial in a research note on Monday, October 21st. JPMorgan Chase & Co. decreased their target price on shares of Ally Financial from $42.00 to $40.00 and set an “overweight” rating for the company in a research report on Tuesday, January 14th. Evercore ISI cut their price target on Ally Financial from $47.00 to $38.00 and set an “in-line” rating on the stock in a research report on Monday, October 7th. Finally, Wolfe Research cut Ally Financial from an “outperform” rating to a “peer perform” rating in a report on Thursday, December 5th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, Ally Financial has an average rating of “Hold” and an average target price of $43.47.

Ally Financial Price Performance

Shares of ALLY opened at $40.12 on Thursday. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.92 and a quick ratio of 0.92. The company’s fifty day moving average price is $36.92 and its 200-day moving average price is $37.93. Ally Financial has a 1-year low of $31.95 and a 1-year high of $45.46. The firm has a market capitalization of $12.22 billion, a PE ratio of 16.05, a price-to-earnings-growth ratio of 0.40 and a beta of 1.44.

Ally Financial (NYSE:ALLY) last posted its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.21. The business had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $2,021,808.41 billion. Ally Financial had a return on equity of 8.39% and a net margin of 10.84%. The company’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.45 EPS. On average, equities research analysts predict that Ally Financial will post 2.96 EPS for the current year.

Ally Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 2.99%. The ex-dividend date is Friday, January 31st. Ally Financial’s payout ratio is presently 48.00%.

Institutional Trading of Ally Financial

Institutional investors have recently modified their holdings of the stock. Venturi Wealth Management LLC lifted its stake in Ally Financial by 153.9% in the 3rd quarter. Venturi Wealth Management LLC now owns 952 shares of the financial services provider’s stock valued at $34,000 after buying an additional 577 shares in the last quarter. Allworth Financial LP raised its holdings in shares of Ally Financial by 41.9% during the third quarter. Allworth Financial LP now owns 1,426 shares of the financial services provider’s stock valued at $51,000 after acquiring an additional 421 shares during the last quarter. UMB Bank n.a. lifted its position in shares of Ally Financial by 218.8% in the fourth quarter. UMB Bank n.a. now owns 1,546 shares of the financial services provider’s stock valued at $56,000 after acquiring an additional 1,061 shares in the last quarter. Quarry LP boosted its stake in shares of Ally Financial by 311.4% in the second quarter. Quarry LP now owns 1,510 shares of the financial services provider’s stock worth $60,000 after acquiring an additional 1,143 shares during the last quarter. Finally, Brooklyn Investment Group purchased a new stake in shares of Ally Financial during the third quarter worth approximately $63,000. Institutional investors and hedge funds own 88.76% of the company’s stock.

About Ally Financial

Ally Financial Inc, a digital financial-services company, provides various digital financial products and services in the United States, Canada, and Bermuda. The company operates through Automotive Finance Operations, Insurance Operations, Mortgage Finance Operations, and Corporate Finance Operations segments.